The end of the year is here and most people are starting to think of their resolutions for the new year. In addition to the usual resolutions of eating healthier, saving more, or using your tech devices less, think about having your estate documents prepared.
I know, it seems a bit dismal thinking about preparing your estate documents at the beginning of the new year, but, really, it makes sense. By having your estate planning prepared and completed, you can rest easier knowing that you and your family are prepared for anything.
Some reasons to add Estate Planning to your New Year’s Resolutions:
- If you do not have a will, the laws of the State of Texas will determine who gets what and how much. Maybe you gifted some money to son Johnny to help him get his business off the ground and plan on leaving the remaining money to your daughter Daisy. Without a will, this may not happen. And, if you do not have a will, your surviving family members may need to take extra steps to dispose of your property, including filing an Affidavit of Heirship and Application for Letters of Administration.
- Help to make a plan for your healthcare in the event that you unexpectedly fall ill. Having an advanced directive, medical power of attorney, and/or living will will help your family members know what to do if you are unable to make medical decisions for yourself. Planning in advance helps to guide families through difficult times and provides them with peace of mind that they are following your wishes.
- Make sure that your finances are being managed if you’re unable to do so for any reason. Another important document is a general Power of Attorney, which allows the person of your choice to manage your finances (to the extent of your choosing) if you are deemed incompetent to do so.
- Find out if a trust is right for you. A trust may be able to protect your assets and help to avoid long probate proceedings.
If you have questions regarding estate planning or would like to learn more about how JVG Law can help, please contact our office at (281) 370-1810 to find out about our Estate Planning Package.
*The above information is provided for informational purposes only and does not constitute legal advice. No attorney-client relationship has been created. If you have questions regarding your specific case or circumstances, please contact an attorney to discuss your case individually.